Nigerian Bank Auditors Urged to Embrace AI for Accountability

During the 64th quarterly general meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), held recently, auditors were tasked with deepening their understanding of artificial intelligence (AI) to mitigate accountability gaps in the Nigerian financial sector. The chairperson of ACAEBIN, Mr.

Aina Alwai, emphasized the need for the organization to strengthen governance, risk management, and internal control within Nigeria's banking industry. She noted that the increasing complexity of operations necessitates equipping internal auditors to respond effectively to emerging risks.

Mr. Oliv Alawuba, Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA), highlighted the importance of adopting AI to enhance operational speed and innovation.

Ugochukwu Nwaghodoh, Executive Director of Financial Risk Management at UBA, stressed that internal audits must remain independent and objective, particularly in understanding risks associated with AI, machine learning, and data governance.